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NONPROFIT HOUSING ROUNDTABLE OF CENTRAL FLORIDA AGENDA

Wednesday, May 26, 1999 @ 8:30 A.M., Beardall Center, Orlando

MISSION: To increase the supply of decent affordable housing provided by nonprofit organizations to low and very low income families through coordination among nonprofits to enhance capabilities, expand funding opportunities, maximize training, and develop new partnerships.

Time (Min)					Agenda Item	
8:00-8:30		Networking between members and guests 	
8:30-8:35		Introduction of members/guests (Katie Porta)
8:35-8:40		Approval of minutes
8:40-8:50		Sponsor -- Orlando Neighborhood Improvement Corp -- South Annex  (Bob Ansley)
8:50-9:10		Speaker -- Picerne Development (Fran James)
9:10-9:30		Other Items:  
     County HAC Report 
     City of Orlando HAC Report
     Counseling Collaborative
   New Business:
     Review correspondence
Next membership meeting -- Wednesday, July 28, 1999 @ 8:30 am 
Adjourn	(TOTAL MEETING TIME -- 1 HOUR AND 5 MINUTES)

The Beardall Center
800 S. Delaney Street, Orlando, FL 32806

Located at northeast corner of Orange Avenue and Gore Street.
The meeting will be in the multi-purpose, room #1

Future Meeting Schedule: June 30, July 28, August 25, September 29, October 27, November 17, December - No Meeting

THE NONPROFIT HOUSING ROUNDTABLE OF CENTRAL FLORIDA - ACTION PLAN

Goal 1. To educate the entire community on the role of the nonprofit sector as an important partner in the housing delivery process. a. Communicate housing and nonprofit needs to local area government b. Develop quantifiable goals for the Roundtable to allow for evaluation of this organization's effectiveness. c. Invite guest speakers to speak monthly. Pick out topic relevant to nonprofit housing providers (i.e. management, development, underwriting) and have speaker make 30 minute presentation. Goal 2. To pool skills and resources of nonprofit housing producers and housing support agencies a. To use the nonprofit Roundtable to gain organizational and functional strength to achieve our mission by convening regular meetings to share information, and to plan and coordinate activities of the participating nonprofits b. To evaluate and prepare an annual plan that quantifies projects and funding needs of the participating nonprofits and prepare joint funding support request to the various funding entities c. To promote and support emerging nonprofit housing organizations. Goal 3. To pursue various partnership opportunities and linkages with for-profit developers and builders. a. Strengthen relationships between nonprofits and private sector b. To become active participants in the Homebuilder's association to cultivate support of for-profit developers and builders and to seek out opportunities for joint-ventures, other business relationships and mentoring. Goal 4. To pursue activities that would increase the availability of low cost funds to nonprofits. a. Subscribe to legislative, funding resource. Monitor and report on upcoming funding programs. b. Develop calendar of funding source with contact, deadline and summary information. Goal 5. To pursue activities that would encourage governments to provide grants and loans to nonprofits for technical assistance and housing production.

Nonprofit Housing Roundtable
Meeting Minutes from June 30, 1999 Meeting

Present: Adrienne DeSouza, Fran James, Diana Cook, Lynda Hinckley, Scott Zimmerman, Janna DeMarta, Terry Bangs, Bonnie McCoy, Victor Alvarado, Mike Daly, Barbara Conover, Steve Chitwood, Kevin O'Rawe, Elena Rodriguez, Michael Smith, Constance Green and Cynthia Smith.

Agenda Item 1 -- Approval of Minutes

Motion made to approve the minutes by Bob Ansley. Motion seconded by Scott Zimmerman. Approved unanimously..

Agenda Item 2 -- Presentation by Bob Ansley from Orlando Neighborhood Improvement Corporation

ONIC was started in 1985. During this period they have been one of the most active not-for-profit developers in Central Florida. One of the major projects which they have undertaken has been the Villages of Southport which is the old Navy Annex. The following key points were made during the presentation made by Bob

The complex consists of 650 houses. The base was closed in 1995 and the City went out with a request for a proposal to redevelop the base.
ONIC is one of the team members of the team that was selected to redevelop the base. Their current responsibilities include screening and qualifying applicants, placing people with the correct mortgage products and help oversee the renovation of the individual homes.
Several financial institutions have been involved with permanent mortgages which include NationsBank, SunTrust and Washington Mutual.
Since June 9^th they have had 300 sales which have closed and they are currently under contract on an additional 200 people.

The homes needed a significant amount of renovation work because they were built in 1961. The homes were upgraded. They developed each section of the entire project with different themes and different styles to give it more of a neighborhood feel.
The project has been a success and Bob encouraged anyone interested to feel free to contact him and he can arrange a tour. Bob can be reached at 648-1623.

Agenda Item 3 -- Speaker: Fran James from Picerne Development

Picerne is a family owned business and has been this way for seventy-five years. Their parent company is in Rhode Island and they have branch facilities in Orlando and Arizona. The Orlando facility specializes in affordable housing. The following were key points made during Fran's talk:

The company now works in twenty states and a great percentage of their deals include tax exempt bond financing.
The company works with many different not-for-profits and for-profits in a joint venture type arrangement. This type of joint venture is important and often necessary to be awarded tax credits.
In a project in Jacksonville, Picerne worked with a local church sponsored community development corporation. This group had tried to develop elderly housing using the HUD 202 Program but had been unsuccessful. The church owned the property and was able to use the property, in addition to attracting city contributions for the development of an elderly housing project. This was a very good application and Picerne and the church are currently awaiting award announcements from the State of Florida.
When working with not-for-profit, Picerne often looks at both managing and general partner arrangements. Depending on the state will determine what type of arrangement they have with a not-for-profit. The advantage of this arrangement is that the not-for-profit learns the tax credit process and is able to bring funds to the table, and the for profit is able to bring their expertise to the table. Because applications are very expensive and time consuming to put together, it is often necessary to have a for profit cosponsor.
Picerne is well suited to put together these tax credit applications because of their experience and their financial resources. They also are able to pass on economy to scale with respect to management and construction services.
There are two bills currently being discussed in the United States Congress. One is to raise the tax credit ceiling from $1.25 per capita to $1.75 per capita. The end result of this would be a tremendous increase in the amount of money available for tax credit projects. The second piece of legislation concerns itself with increasing the cap on tax exempt bonds per state. This legislation would also provide additional financing for affordable housing projects.
In order to be competitive in tax credit projects, Picerne likes to have a minimum of 200 units.

Agenda Item 4 -- Miscellaneous Items

There was some discussion at the Orange County Board of County Commissioners regarding downpayment assistance and household median income. Ted Edwards wanted qualified household income to be dropped from 80% of the area median income to 60%. This item was defeated.
With respect to the City of Orlando, there was not much activity in the last month. There was some discussion regarding the CRA and the levels of financing for individual homes within the Parramore area.
Mike Daly was on hand from HUD. He reminded everybody that the National Home Ownership Week was June 5^th through June 12^th. In conjunction with this event, HUD will have a kiosk at the Orange County Library and this kiosk will be manned during that week to answer questions of people interested in home ownership.
Mike Smith was on hand from the Orange County Housing Finance Authority. He indicated that the Florida Community Development Association was having its annual meeting in Orlando from June 15^th to 18^th. As a part of this event, they are encouraging not-for-profits to set up tables and information for attendees. For more information contact Mike Smith at 894-0014.
Steve Chitwood was on hand from HANDS. He indicated on July 1^st the organization will celebrate their tenth anniversary.

This concludes the meeting minutes. The next meeting will be held on June 30th.

GUEST SPEAKER - JUNE MEETING

Lockheed/Martin - Lisa Portelli

One of the most critical government programs of the past 30 years is the welfare-to-work initiative. This program can be confusing and often times misunderstood. Lisa Portelli will be in attendance to talk about the program and what it means for the program's participants, many of whom are renters and potential future home buyers.

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